European Union Passes Budget for 2014 to 2020

After approving the 2014-2020 European budget on November 14 in the European Union’s budget committee, deputies of the EU voted on November 19 in plenary to put the motion into effect on January 1. The budget proposal passed with a vote of 537 to 126 with 19 abstentions. The deal includes a high-level working that uses the […]

Disappointing EU Factory Data Raises Doubts About Recovery

Eurozone manufacturing numbers plunged in July to their lowest level in three years, according to newly-released macroeconomic data. A fall of 1.5% in industrial output was reported across the 17-country Eurozone, instead of the 0.1% increase forecast by economists. The drop, reported by European Union statistics agency Eurostat, raises serious questions about whether European leaders […]

An Economic Recovery May Save Hollande’s Presidency

France’s recession is officially over, as newly released economic data showed a surprising return to growth in the second quarter. The national economic statistics agency, INSEE, reported that the French economy grew by 0.5% between April and June, its best showing in the last two years. The unexpected boost was attributed in large part to […]

Manufacturing Improvements are Good Omen for French Economy

French manufacturing output for July shrank at the slowest rate in the last 17 months, in what some analysts are taking as a sign that the worst of France’s recession is over. According to financial information company Markit, France’s purchasing managers’ index (PMI)—a measure of factory activity that factors in output, hiring, and other economic […]

French Government ordered by court to rethink ban on Mercedes-Benz vehicles

The manufacturer of Mercedes-Benz luxury cars has found itself in the middle of a legal battle with the French government after the environmental ministry stopped registering cars whose air-conditioning coolant does not comply with the European Union’s regulations. The scandal erupted when Daimler, the owner of Mercedes-Benz, became the third German firm to reject the refrigerant called HFO-1234yf, a […]

France, Europe’s Second Largest Economy, Officially in a Recession

The recent announcement by the INSEE (National Institute of Statistics and Economic Studies) that France is “officially” in a recession has the French wondering just how serious the economic situation has become. Investment and exports are both on the decline, and household consumption is at its lowest in the past thirty years. All together the […]

Fiscal Evasion a Large Topic of Discussion at EU Summit in Brussels

On Wednesday, May 22nd, Brussels hosted a summit for the leaders of the European Union (EU) states.  France, alongside the UK and Germany, lobbied for the four-hour session to include an in-depth discussion of tax loopholes and evasion within the Eurozone, alongside the scheduled talks on European energy policy ad infrastructure.  These talks were prompted […]

EU Commission Warns France over Public Debt Levels

On Wednesday, April 10, the European Commission singled out France, issuing harsh warnings over serious public sector debt levels that could possibly weaken the entire Eurozone. A Commission report stated that high and increasing public debt is “reducing the capacity of public finances to face potential adverse shocks,” which could negatively affect the entire Union’s […]

François Hollande Applauds Greece While Considering Own Economy

On Tuesday, February 19, French President Francois Hollande was welcomed in Athens, Greece as a crucial friend to the country. Hollande’s visit was to pay his respects for the considerable efforts that Greece has made to clean up their finances and engage in structural reforms. Alongside the Greek Prime Minister, Antonis Samaras, Hollande paid homage […]

Is the Rise of the Euro Hurting European Economies?

On Tuesday, February 5 French President Francois Hollande expressed his complaint over an overvalued euro that does not represent the current state of the economy, claiming it is hurting the French.  During his speech Hollande asked the European Parliament to commit to reform of the currency that is currently at $1.35, a 12 percent increase […]